Here’s How Big Law Firms Are Using Pay Cuts to Survive Covid-19

Nearly half of the largest law firms in the country have trimmed partner or attorney pay or used furloughs and layoffs in response to the coronavirus pandemic, according to a Bloomberg Law analysis. It remains to be seen whether those moves will become permanent or a new round of austerity measures is on the horizon as the crisis continues.

Belt Tightening: At least 38 of the largest law firms have imposed cuts to attorney and staff salaries, and at least 38 firms have cut or deferred their equity partner distributions since February.

Behemoths Quiet: The 20 largest firms in the ...